WHEN shares in Golden Energy and Resources (Gear) suddenly swooned last Tuesday (Nov 8), I grumbled to my newsroom colleagues that they had crashed one of the best-performing stocks I happen to own.
Earlier that day, The Business Times had published a news report and a commentary about coal companies possibly facing financing risks as banks become increasingly concerned about environmental, social and governance (ESG) issues.
The news report and commentary - which specifically referenced Gear - said that coal companies might have to restructure themselves and offload assets that could become stranded as funding dries up.
As an owner of shares in Gear, I did not care much for this narrative. In...